Bankman-Fried's lawyer says 'crypto was not for everyone.' FTX said the opposite

Sam Bankman-Fried watches as his defense lawyer Mark Cohen makes his opening remark in Bankman-Fried's fraud trial over the collapse of FTX, the bankrupt cryptocurrency exchange, at Federal Court in New York City, U.S., October 4, 2023 in this courtroom sketch. REUTERS/Jane Rosenberg

NEW YORK (Reuters) - In his opening statement at Sam Bankman-Fried's fraud trial on Wednesday, the FTX cryptocurrency exchange founder's lawyer acknowledged that his client was in a risky business, noting that "crypto was not for everyone."

But FTX had asserted the opposite in an online post about a car race it sponsored in Miami Beach, Florida, six months before its November 2022 collapse.